The value of marginal product (VMP) of labor is the extra revenue generated by
A) selling one additional unit of output.
B) raising the price of the good by one dollar.
C) hiring one additional unit of labor.
D) price discrimination.
C
Economics
You might also like to view...
The ________ plots the relationship between prices and the quantity that buyers are willing to purchase
A) supply curve B) isoquant C) indifference curve D) demand curve
Economics
The expenditure approach to measuring GDP is done by using data on only
A) consumption expenditure. B) consumption expenditure and investment. C) consumption expenditure, investment, government expenditure on goods and services, and net exports of goods and services. D) consumption expenditure, investment, and government expenditures. E) wages, rent, interest, and profit.
Economics